Lasaco Assurance PLC has indemnified 97 beneficiaries of its life insurance scheme for staff members of the Lagos State Universal Basic Education Board (SUBEB) and Local Government and Community Affairs for N190 million.
The company, which took the initiative in fulfillment of its corporate policy of maintaining trust and relationship with its clients, presented a letter of between N629,762.69 and N6,590,999.46 to the families of each of the deceased staff of SUBEB and Local Government and Community Affairs.
The Managing Director of Lasaco Assurance, Razzaq Abiodun, who gave out the letters to the beneficiaries, explained that the company had so far compensated 1,356 deceased staff members of the two organisations up to N3 billion since 2017 when the scheme commenced.
Abiodun traced the company’s life cover for the civil servants of Lagos State to the days of Asiwaju Bola Tinubu, the president-elect, as the governor of the state.